Boyd Gaming Corporation (BYD) vs Vail Resorts, Inc. (MTN)

Boyd Gaming Corporation and Vail Resorts, Inc. are both Resorts & Casinos companies. Boyd Gaming Corporation and Vail Resorts, Inc. are of similar size ($5.2B and $4.9B). Boyd Gaming Corporation trades at the lower P/E: 3.1× against 30.9×. Boyd Gaming Corporation grew revenue faster over the last twelve months: 1.75% against −4.29%. Boyd Gaming Corporation has the higher net margin (44.3% vs 5.54%) and the higher return on invested capital (8.77% vs 7.57%). Both pay a dividend; Vail Resorts, Inc. yields more (3.81% vs 0.97%). Across the 23 metrics below, Boyd Gaming Corporation leads on 17 and Vail Resorts, Inc. on 6.

Valuation

Metric BYD MTN Resorts & Casinos median
P/E 3.14 30.86 18.52
P/S 1.30 1.71 0.54
P/B 2.13 5.29 2.13
Price to free cash flow 151.99 25.84 13.62
EV/EBITDA 7.41 10.26 9.18
EV/Sales 1.87 2.64 1.80
Earnings yield 31.90% 3.24% 1.69%
Free cash flow yield 0.66% 3.87% 6.51%

Profitability

Metric BYD MTN Resorts & Casinos median
Gross margin 49.00% 41.63% 50.85%
Operating margin 16.37% 15.20% 10.41%
Net margin 44.34% 5.54% 1.28%
Free cash flow margin 0.86% 6.63% 4.23%
Return on equity 93.36% 14.70% 5.28%
Return on assets 27.44% 2.74% 0.57%
Return on invested capital 8.77% 7.57% 5.61%

Growth

Metric BYD MTN Resorts & Casinos median
Revenue growth (TTM) 1.75% (4.29%) 2.76%
EPS growth (last fiscal year) 264.46% 24.05% —
Revenue growth, 5-year CAGR 13.44% 8.59% 24.21%
Net income growth, 5-year CAGR 0.00% 23.16% 0.00%

Health

Metric BYD MTN Resorts & Casinos median
Debt to equity 1.05 3.30 1.94
Current ratio 0.77 0.91 0.91
Net debt to EBITDA 1.59 3.20 3.08

Dividend

Metric BYD MTN Resorts & Casinos median
Dividend yield 0.97% 3.81% 1.27%
Payout ratio 0.09 1.18 0.00

Size

Metric BYD MTN Resorts & Casinos median
Market cap 5.22b 4.91b 2.43b

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